Once
the tax sale is concluded and the high
bidder
fulfills their obligation to pay, the tax commissioner issues a tax
deed
to the purchaser. The buyer should keep in mind that a tax deed
has
the following limitations and restrictions.
- The
tax deed is
not a warranty deed. It is up to the
purchaser
to check the validity of title to the property.
- A
thorough title
check must be made by the purchaser in order to properly foreclose on redemption
rights and obtain fee simple title to the property.
- The
defendant in
fifa., record property owner (if different from the defendant in
fifa.);
mortgagee or outstanding security deed holder; or other person with a
legal
interest in the property has 12 months from the date of sale to redeem
the property by paying the tax sale purchaser the price paid at the
sale
plus interest and other costs as provided by law.
- The
purchaser at
the tax sale has the responsibility to foreclose on the redemption
rights
one year after sale by notice given as provided by law. If the
notice
provisions are not followed by the tax sale purchase, fee simple title
does not legally vest in that purchaser. The tax commissioner's
office,
however, is not in the business of giving legal advice nor
assumes
any liability that goes with the practice of law. Legal advice
should
be sought from your own attorney.
- The
purchaser at
a tax sale is encouraged to seek legal advice to insure that redemption
right foreclosure procedures are properly followed.
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